AUD/USD: Focus Remains Topside For Now. The pair traded above the Jan 30 high by a couple of pips before closing the NY session off its highs. We will continue to look for a close back below the $1.0414 initial support level to relieve the immediate bullish focus for the pair, with the 100-DMA ($1.0408) noted just below. While this supports, spikes above the upper Bollinger are expected with the $1.0578-98 region targeted. Overall below the Mar 18 low is needed to shift focus lower.
RES 4: $1.0624 – High Sept 14
RES 3: $1.0598 – 2013 high Jan 10 & 11
RES 2: $1.0578 – Double Daily Top Jan 16 & 22
RES 1: $1.0485 – 21 day upper Bollinger band
Latest price: 1.0460
SUP 1: $1.0414 – Previous daily resistance now support
SUP 2: $1.0346 – Low Mar 18
SUP 3: $1.0268 – Low Mar 12
SUP 4: $1.0205 – Low Mar 11
NZD/USD: $0.8292 Key Support. The cross continues to make fresh highs for the month as it works its way towards the layers of resistance in the $0.8393-0.8416 resistance region. A close below yesterday’s low is needed to relieve the immediate bullish focus while back below the $0.8292 level is needed to shift focus lower, with the 100-DMA noted just above at $0.8309.
RES 4: $0.8534 – 2013 high Feb 15
RES 3: $0.8416 – High Feb 25
RES 2: $0.8402 – Ichimoku cloud top
RES 1: $0.8393 – 61.8% retracement of $0.8534-0.8164 move
Latest price: 0.8350
SUP 1: $0.8337 – Low Mar 25
SUP 2: $0.8292 – Previous daily resistance now support
SUP 3: $0.8157 – Low Dec 26
SUP 4: $0.8125 – 100 week moving average
AUD/JPY: Mar 18 Lows Continue To Support. The AUD/JPY remains little changed from Monday’s opening level as it continues to trade sideways within the Jpy97.60-100.00 region. The Jpy100.00 level remains key resistance with a close above likely to see the pair begin to trade within a Jpy100-105 range. A close below initial support remains needed to relieve the bullish focus and see the pair target retests of the Jan 16 low.
RES 4: Jpy104.5 – 2008 high Jul 21
RES 3: Jpy100.7 – High Aug 5 2008
RES 2: Jpy100.0 – Psychological Resistance
RES 1: Jpy99.96 – 2013 high Mar 14
Latets price: 98.56
SUP 1: Jpy97.60 – Low Mar 18
SUP 2: Jpy97.29 – 21 day moving average
SUP 3: Jpy94.45 – Low Mar 1
SUP 4: Jpy92.50 – Low Jan 16
USD/KRW: Mar 14 Low Remains Key Support. The pair pulsed back from the double daily top and layers of resistance in the Krw1120.6-1127.8 resistance region to begin the week but we continue to look for a close below the Mar 14 low to shift focus back to the Krw1077-82 support region. Back below the Mar 14 lows is needed to confirm a break back below the 200-DMA with the pair having made headway and consolidated the break above earlier in the month.
RES 4: Krw1136.2 – 61.8% retracement of 1186.7-1054.5 move
RES 3: Krw1127.8 – Rising daily channel top
RES 2: Krw1124.8 – Previous daily support now resistance
RES 1: Krw1120.6 – 50% retracement of 1186.7-1054.5 move
Latets price: 1113.5
SUP 1: Krw1105.2 – 200 day moving average
SUP 2: Krw1101.7 – Low Mar 14
SUP 3: Krw1094.1 – Low Mar 12
SUP 4: Krw1093.4 – Rising daily channel base
USD/SGD: 21-DMA Now Initial Resistance. USD/SGD headed sharply lower to start the week with the previous bullish pressure having been relieved as a result. The pair dipped but failed to close below the Mar 4 lows and we will now look for a close back above the 21-DMA to see focus return to the 2013 highs. While the 21-DMA caps there is now a risk that USD/SGD continues lower with a close below yesterday’s lows needed to confirm a shift in focus back to the Sgd1.2309-34 region.
RES 4: Sgd1.2625 – Rising daily channel top
RES 3: Sgd1.2556 – High Aug 28
RES 2: Sgd1.2529 – 2013 High Mar 20
RES 1: Sgd1.2459 – 21 day moving average
Latest price: 1.2436
SUP 1: Sgd1.2420 – Low Mar 25
SUP 2: Sgd1.2373 – 21 day lower Bollinger band
SUP 3: Sgd1.2334 – Low Jan 30
SUP 4: Sgd1.2309 – Previous daily resistance now support
EasyForexNews Research Team